Owe Back Taxes?

FSA can’t reimburse OTC drugs without prescription: IRS
WASHINGTON—Employees who want to pay for over-the-counter medications using their health care flexible spending account will need a prescription to do so effective Jan. 1, 2011, according to new Internal Revenue Service rules.

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Does the IRS owe you money
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More hurdles for city refinery
NASHUA – First it was the biofuel industry, then it was the IRS, now it’s the EPA. There seems to be no end of organizations whose complicated permission is needed before the state’s first biofuel refinery can start up. “This is a new regulation that just started this year,” said Christopher Langille, a research associate at Keene State University who is part of the group developing the refinery …

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Police warn of debt, IRS collection scam
MICHIGAN CITY — The Michigan City Police Department would like to warn residents of a widespread scam that involves bogus debt collectors who have an alarming amount of personal information about their potential victims. This scam is putting residents at high risk of identity theft and significant financial losses.

Read more on The Michigan City News-Dispatch

IRS Employee Pleads Guilty to Tax Fraud
A Memphis IRS employee pleads guilty to filing a false income tax return.

Read more on FOX 13 Memphis

IRS Issues Guidance On FATCA,
The United States Treasury and the Internal Revenue Service (IRS) have stated their intent to issue guidance on the reporting requirements imposed on foreign financial institutions (FFIs) by the enactment of the Foreign Account Tax Compliance Act (FACTA) on March 18, 2010 within the Hiring Incentives to Restore Employment (HIRE) Act.

Read more on Tax-News.com

IRS Loses Revenue From Foreign Income Claims,
According to a report released by the United States Treasury Inspector General for Tax Administration (TIGTA), the Internal Revenue Service (IRS) lost an estimated USD90m in revenue in the 2008 tax year because of erroneously claimed foreign earned income tax exclusions.

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Sideshow: Ricky Gervais accused of Hollywood-style makeover
Has Satan forced comedy genius Ricky Gervais to abandon those Quainte Olde Englysshe Wayes that make The Office creator so beloved?

Read more on The Philadelphia Inquirer

IRS issues guidance explaining changes to spending arrangements
WASHINGTON — The Internal Revenue Service today issued guidance reflecting statutory changes regarding the use of certain tax-favored arrangements, such as flexible spending arrangements (FSAs), to pay for over-the-counter medicines and drugs.

Read more on The Pasadena Citizen

Former IRS employee gets 42-month prison sentence
A former IRS employee in Covington has been sentenced to 42 months in prison for helping steal $55,0

Read more on Lexington Herald-Leader